Steel Dynamics, Inc. reported that in 2023 it obtained positive results from its plant in Sinton, Texas in the commercialization of steel in the Mexican market.
“Last year, we moved about 600,000 tons into Mexico in various industries altogether,” Barry Schneider, President & Chief Operating Officer, told investors in a conference to discuss its fourth-quarter financial review.
The Sinton plant is located 460 miles northeast of Monterrey, Nuevo León, Mexico. Schneider told investors that they increased the capacity of his warehouse in Monterrey. That Mexican city is the home of its commercial rival Ternium, one of the largest steel companies in Mexico.
“We're very pleased with how the business is moving,” said the COO.
The growing market in Mexico for Steel Dynamics occurs at a time when the steel giant Altos Hornos de México (AHMSA), with a production capacity of 5.5 million tons per year, has been paralyzed by insolvency since January of last year.
Schneider said that they still see an increase in demand for their products in Mexican lands. The success is due to the proximity of the plant in Texas to Monterrey and the quality of its products.
“We have wider, we have heavier products than we would typically have,” Schneider said.